Oxford Street could host Primark duo

Value chain Primark is not ruling out opening a second store on London's Oxford Street, amid soaring sales at the retailer.

New stores in Liverpool, Sheffield and the West Midlands are also on the cards, as well as a relocation of its Brighton store.

The plans come as parent company Associated British Foods (ABF) reported stellar interim results, smashing City forecasts, with total sales up 36% to £721 million in the six months to March 3. Like-for-like sales, adjusted for the impact of new openings, rose 6%. Operating profits climbed 28% to £91m.

ABF finance director John Bason told Drapers there were a number of cities where Primark still had no stores, including Edinburgh. He claimed the market could take another 50 stores.

Following the early success of its first Oxford Street shop, which opened earlier this month and has already served more than 500,000 shoppers, Bason said the opportunity of opening a second Primark store on the street could not be ruled out.

Between now and mid-September, Primark will open four stores, including at the Merry Hill shopping centre in Dudley, West Midlands, and at Meadowhall in Sheffield.

Bason said the store in Liverpool, which will be about 100,000 sq ft, will open at the end of this year.

Primark also said it was looking to expand some of its older, smaller locations, such as its Leytonstone shop in east London.

The retailer opened 23 stores in the six months to March 3, bringing its store count to 161. It also opened its second shop in Murcia in Spain during the period.

Primark said it was planning to open another four stores in Spain in the next year.

Boohoo Group, Asos and Missguided were pushed on the transparency of their supply chain models in the second evidence hearing on the sustainability of the fashion industry at the houses of parliament this week.

New Look has managed to return to operating profit, but industry experts say shutting stores and renegotiating rents is only half the battle, and claim the retailer’s real success will come from redefining its product offer.

Have your say

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.